Chicago. ILLINOIS, Aug. 16, 2023 (Globe Newswire) — via new media wire – Epas Co., Ltd.. (OTCPINK: EPAZ), a mission-critical provider of drone technology, blockchain mobile apps, and cloud-based business software solutions, today reported Q2 2023 revenue of $580,530, compared to $580,530 in Q2 2023 revenue. The second quarter was reported at $511,633. , the company reported a positive EBITDA of $132,563, compared with an EBITDA of $37,372, up 71.8%. These revenues were driven by the use of artificial intelligence (AI) engines added to our cloud business software offerings.
Epazz’s software products continue to generate revenue. The company has upgraded its technology with an AI engine to help customers run their organizations better. Epazz continues to expand the use of AI in software programs. AI software increases productivity, reduces operational costs, and helps customers understand the best candidates to hire and how to solve operational problems.
The company expects new revenue streams from drone technology, and smart glasses will impact the company’s bottom line in the coming months as drones are deployed and smart glasses are introduced into training programs. Epazz plans to reinvest operating profits to win drone government contracts. Hire additional business development personnel and start operations abroad. Epazz already has joint ventures with NightSun for Native American tribes, and is working on other joint ventures in Brazil, South Africa and Ukraine.
Epazz started developing AI software in its drone software program in 2019. This led to the development of the ZenaDrone 1000.
Product development costs are reduced as drone technology is in the manufacturing stage. Dr. Sean Passley, CEO of Epazz Inc. said, “We have increased revenues and reduced costs, resulting in positive EBITDA and positive net income.”
about Zenadrone Co., Ltd.
ZenaDrone is dedicated to improving intelligent unmanned aerial vehicle technology and incorporating machine learning software and AI. It was created to revolutionize the cannabis cultivation sector and later evolved into a smart, multi-functional industrial surveillance, inspection and monitoring solution. ZenaDrone deploys drones for the following purposes: drone as a service (dozen) operation.
Epas Co., Ltd.
Epazz Inc. is a mission-critical provider of Metaverse solutions, blockchain cryptocurrencies, mobile apps and cloud-based software. We specialize in delivering customized cloud applications to enterprises, higher education institutions and the public sector. Epazz develops metaverse business solutions that enable people to collaborate in real time through virtual reality. Epazz is upgrading its business solution to be fully integrated into the metaverse. We plan to manufacture low-cost smart glasses for the metaverse.
Certain statements in this press release are “forward-looking statements” as defined in the “safe harbor” statements of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by the use of forward-looking terminology. Such as “may”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue” (or any negative variations thereof). Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those implied by the statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and actual results may differ materially from such forward-looking statements. Epazz assumes no obligation and does not intend to update these forward-looking statements. Nor is Epazz under any obligation to update or correct information created by third parties for whom Epazz does not pay.
Investors are encouraged to review Epazz’s filings publicly available at SEC.gov, including Epazz’s unaudited and audited financial statements, registration statements, Forms 10-Ks and Forms 10-Qs. It is recommended. They contain general business information about the company’s operations, operating results and risks. anything related to the company and its operations; penny stock picks need to research. Please do your homework. Please review all submitted documents.
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Epas Co., Ltd.
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